India Eager to Invest in Iran’s Petrochemical Projects: Indian Minister

India Eager to Invest in Iran’s Petrochemical Projects: Indian Minister
Sat Aug 15, 2015 12:06:03

India’s Minister of Road Transport, Highways and Shipping Nitin Gadkari voiced New Delhi’s willingness to participate in Iran’s transportation and petrochemical projects, Al-Alam News Network reports.

The Indian minister raised the issue in a meeting with visiting Iranian Foreign Minister Mohammad Javad Zarif in New Delhi on Friday.


“We are awaiting Iran's proposals in road, railway, ports and petrochemical areas,” he reiterated.

He pointed to the conclusion of nuclear talks between Iran and six world powers in Vienna on July 14 and the positive atmosphere created after the deal, and said his country is studying the ways to expand mutual cooperation with Tehran.

Also at the meeting, the Iranian foreign minister said the new atmosphere has created opportunities for regional countries to boost their ties.

Zarif added that North-South corridor, railway and road projects, development projects at Iran’s southeastern Chabahar Port, and also oil and gas and petrochemical industries are main areas for cooperation between Iran and India.

Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) finalized the text of lasting deal on Tehran’s nuclear program on July 14.

Dubbed the Joint Comprehensive Plan of Action (JCPOA), the deal would subject the parties to comply with a series of commitments, resulting in the termination of sanctions on Iran in exchange for certain restrictions on Tehran’s nuclear program during a defined period of time.

Experts believe that Iran’s economic growth would rise remarkably after the final nuclear deal takes effect.

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